Ogden FHA Loan Rates, Closing Costs & Stats

OGDEN-CLEARFIELD, UT

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    • FHA loans are mortgages created in the 1930's to help insulate lenders from credit risks and help promote home ownership. The Federal Housing Administration (hence, FHA) allows for lower downpayments and credit scores-- making these loans much more accessible than traditional mortgages.

    FHA loans typically need just a 3.5% downpayment with credit scores of 580 or better. For credit scores between 500-579, the downpayment needs to be at least 10%.

    While FHA loans make home ownership much more accessible to first-time homebuyers, they do require PMI (purchase money insurance)-- an additional insurance premium that is paid to the FHA to help cover defaults.

    For additional requirements as defined by the FHA, click here.

    Ogden's 115 lenders originated 2,567 FHA loans during 2022. The total origination value was $929,145,000, with an average FHA loan value of $361,958.

    Ogden FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Ogden averaged 6.63% for the week of 2023-12-01, compared to the national average (all FHA variants) of 6.949% for the same period.

    Ogden's average FHA mortgage closing costs are $9,716.

    The average rate for the prior week (2023-11-24) was 6.54% and one month ago for the week of 2023-10-27, the average rate was 6.75%.

    The average rate one year ago was 5.77%.

    For refis of the same type during the week of 2023-12-01, the average rate was 5.51%.

    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

    Ogden FHA Loan Lenders by Rates & Fees

    The below table looks at the average fees/closing costs and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Ogden level.

    Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    UNITED WHOLESALE MORTGAGE, LLC 186 4.74% $13,410
    QUICKEN LOANS, LLC 126 4.60% $13,931
    ACADEMY MORTGAGE CORPORATION 124 5.15% $15,396
    INTERCAP LENDING INC. 110 5.06% $14,093
    CITYWIDE HOME LOANS, LLC 97 4.92% $14,296
    CALIBER HOME LOANS, INC. 80 4.40% $12,438
    SECURITYNATIONAL MORTGAGE COMPANY 72 5.38% $15,539
    HOME POINT FINANCIAL CORPORATION 59 4.13% $12,064
    CARDINAL FINANCIAL 57 4.57% $15,214
    FIRST COLONY MORTGAGE CORPORATION 50 4.78% $14,963
    GUILD MORTGAGE COMPANY 50 5.04% $14,362
    CASTLE & COOKE MORTGAGE, LLC 46 5.25% $14,478
    LOANDEPOT.COM, LLC 43 4.40% $15,006
    AMERICAN PACIFIC MORTGAGE CORPORATION 40 5.23% $13,673
    FREEDOM MORTGAGE CORPORATION 38 4.60% $12,674
    RANLIFE, INC. 36 4.77% $14,849
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 32 5.46% $13,409
    BROKER SOLUTIONS, INC. 32 5.09% $15,127
    PENNYMAC LOAN SERVICES, LLC 31 4.38% $13,044
    Mr. Cooper ( Nationstar Mortgage ) 28 4.22% $16,164
    DIRECT MORTGAGE, CORP. 24 4.51% $12,800
    AMERISAVE MORTGAGE CORPORATION 23 4.38% $13,543
    Century Mortgage Company DBA Century Lending Company 21 4.43% $12,883
    VERITAS FUNDING, LLC 20 4.34% $15,196
    Network Funding, L.P. 18 5.59% $14,915
    CROSSCOUNTRY MORTGAGE, LLC 18 4.92% $16,509
    AMERICA FIRST 17 5.08% $10,777
    PRIMELENDING, A PLAINSCAPITAL COMPANY 16 5.55% $14,708
    PRIMARY RESIDENTIAL MORTGAGE, INC. 15 5.33% $18,407
    NEWREZ LLC 15 5.39% $14,061
    Carrington Mortgage Services, LLC 14 4.87% $15,909
    CANOPY MORTGAGE, LLC 14 4.67% $13,415
    MOVEMENT MORTGAGE, LLC 13 4.88% $15,979
    MY MOVE MORTGAGE, LLC 13 4.93% $12,413
    J. VIRGIL, INC. 12 4.05% $13,453
    GOLDENWEST 12 5.02% $10,216
    Bank of Utah 11 5.01% $12,252
    VAN DYK MORTGAGE CORPORATION 11 4.12% $13,333
    LAKEVIEW LOAN SERVICING, LLC 10 3.98% $12,297
    PANORAMA MORTGAGE GROUP, LLC 10 5.68% $15,317
    GUARANTEED RATE AFFINITY, LLC 9 5.18% $14,095
    EVERETT FINANCIAL, INC. 9 4.57% $8,843
    Utah Mortgage Loan Corporation 9 4.93% $13,732
    Northpointe Bank 9 5.29% $13,669
    GUARANTEED RATE, INC. 8 4.48% $16,532
    HOMEAMERICAN MORTGAGE CORPORATION 8 4.45% $10,536
    SECURITY HOME MORTGAGE, LLC. 8 4.70% $12,875
    BAY EQUITY LLC 8 5.33% $16,831
    Sierra Pacific Mortgage Company, Inc. 8 4.73% $11,193
    PACIFIC RESIDENTIAL MORTGAGE, LLC 8 5.41% $16,734
    AMERICAN FINANCING CORPORATION 8 4.61% $12,726
    LOANPAL, LLC 8 4.56% $16,921
    FINANCE OF AMERICA MORTGAGE LLC 7 4.09% $11,681
    SWBC MORTGAGE CORPORATION 7 5.52% $10,696
    Plains Commerce Bank 6 5.77% $19,200
    SUN WEST MORTGAGE COMPANY, INC. 6 4.52% $12,251
    VILLAGE CAPITAL MORTGAGE 6 3.83% $5,134
    Flagstar Bank, FSB 6 4.35% $11,419
    AXIA FINANCIAL, LLC 5 4.60% $11,471
    MOUNTAIN AMERICA 5 5.08% $11,127
    S1L, Inc. 5 4.80% $15,570
    Gateway First Bank 4 5.50% $14,339
    OCMBC, INC. 4 4.66% $17,761
    MID AMERICA MORTGAGE, INC. 4 4.88% $3,914
    HOMESIDE FINANCIAL, LLC 4 4.38% $10,257
    Paramount Residential Mortgage Group, Inc. 4 5.28% $12,494
    DHI MORTGAGE COMPANY, LTD. 3 3.29% $13,469
    CITY FIRST MORTGAGE SERVICES, L.L.C. 3 5.42% $13,998
    EMBRACE HOME LOANS, INC. 3 4.08% $12,409
    Equity Prime Mortgage LLC 3 5.92% $16,722
    Glacier Bank 3 5.42% $11,944
    INSPIRE HOME LOANS INC. 3 5.21% $20,890
    LADERA LENDING, INC. 3 6.17% $20,790
    MOUNTAIN WEST FINANCIAL, INC. 3 3.54% $16,874
    PLAZA HOME MORTGAGE, INC. 3 4.25% $17,297
    STEARNS LENDING, LLC 3 3.38% $9,751
    Victorian Finance, LLC 3 6.08% $12,057
    M&T Bank 2 5.25% $9,531
    LIBERTY HOME MORTGAGE CORPORATION 2 6.56% $27,577
    CYPRUS Federal Credit Union 2 4.19% $8,110
    MORIA DEVELOPMENT, INC. 2 5.13% $12,133
    First Guaranty Mortgage Corporation 2 3.06% $8,771
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 2 5.63% $11,286
    EAGLE HOME MORTGAGE, LLC 2 4.50% $16,626
    CHERRY CREEK MORTGAGE, LLC 2 4.31% $8,138
    Magnolia Bank 2 5.19% $17,499
    NBH Bank 2 5.50% $11,360
    The Federal Savings Bank 2 3.31% $20,332
    Eagle Bank and Trust Company 1 4.38% $17,031
    D. L. Evans Bank 1 3.75% $8,826
    DATA MORTGAGE, INC. 1 4.50% $10,148
    CMG MORTGAGE, INC. 1 4.25% $8,987
    Watermark Capital, Inc. 1 5.13% $15,363
    Strong Home Mortgage, LLC 1 4.13% $14,187
    CALCON MUTUAL MORTGAGE LLC 1 6.25% $12,028
    TJC Mortgage, Inc. 1 6.25% $13,482
    UNITED SECURITY FINANCIAL CORP 1 4.13% $19,332
    BELEM SERVICING LLC 1 1.75% $13,243
    U.S. Bank 1 4.63% $9,618
    Barrington Bank & Trust Company, N.A. 1 3.50% $11,662
    ANGEL OAK HOME LOANS LLC 1 5.25% $25,749
    Willamette Valley Bank 1 5.25% $11,148
    Nations Lending Corporation 1 4.50% $23,155
    MUTUAL OF OMAHA MORTGAGE, INC. 1 6.25% $10,441
    NEST HOME LENDING, LLC 1 6.00% $10,416
    NFM, INC. 1 6.75% $14,367
    Mortgage Research Center, LLC 1 3.75% $10,952
    NOVA FINANCIAL & INVESTMENT CORPORATION 1 5.25% $4,121
    MORTGAGE MANAGEMENT CONSULTANTS, INC. 1 5.63% $9,342
    LOANLEADERS OF AMERICA, INC. 1 5.25% $18,950
    Peoples Bank 1 3.75% $14,294
    JPMorgan Chase Bank 1 4.99% $11,495
    AMERICAN FINANCIAL RESOURCES, INC. 1 6.75% $10,958
    PREMIER MORTGAGE RESOURCES, L.L.C. 1 5.25% $11,490
    Hometown Equity Mortgage, LLC 1 6.75% $22,245

    The top Ogden FHA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 186 FHA loans originated. Their average total fees are $13,410, which is $521 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Ogden FHA lenders (with over 10 loans originated) are GOLDENWEST ($10,216), AMERICA FIRST ($10,777), HOME POINT FINANCIAL CORPORATION ($12,064), Bank of Utah ($12,252) and LAKEVIEW LOAN SERVICING, LLC ($12,297).

    The lowest rate Ogden FHA lenders (with over 10 loans originated) are LAKEVIEW LOAN SERVICING, LLC (3.98%), J. VIRGIL, INC. (4.05%), VAN DYK MORTGAGE CORPORATION (4.12%), HOME POINT FINANCIAL CORPORATION (4.13%) and Mr. Cooper ( Nationstar Mortgage ) (4.22%).

    Ogden FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    OGDEN-CLEARFIELD, UT BOX ELDER 2020 $646,300 $827,400 $1,000,100 $1,242,900
    OGDEN-CLEARFIELD, UT DAVIS 2020 $646,300 $827,400 $1,000,100 $1,242,900
    OGDEN-CLEARFIELD, UT MORGAN 2020 $646,300 $827,400 $1,000,100 $1,242,900
    OGDEN-CLEARFIELD, UT WEBER 2020 $646,300 $827,400 $1,000,100 $1,242,900
    OGDEN-CLEARFIELD, UT BOX ELDER 2023 $744,050 $952,500 $1,151,400 $1,430,900
    OGDEN-CLEARFIELD, UT DAVIS 2023 $744,050 $952,500 $1,151,400 $1,430,900
    OGDEN-CLEARFIELD, UT MORGAN 2023 $744,050 $952,500 $1,151,400 $1,430,900
    OGDEN-CLEARFIELD, UT WEBER 2023 $744,050 $952,500 $1,151,400 $1,430,900

    FHA Loan Requirements

  • Borrowers must have a steady employment history or worked for the same employer for the past two years.
  • Borrowers must have a valid Social Security number, lawful residency in the U.S. and be of legal age to sign a mortgage in your state.
  • Borrowers must pay a minimum down payment of 3.5 percent. The money may be gifted by a family member. (Traditional mortgages do not permit gifted down payments)
  • New FHA loans are only available for primary residence occupancy.
  • Borrowers must have a property appraisal from a FHA-approved appraiser.
  • Borrowers’ front-end ratio (mortgage payment plus HOA fees, property taxes, mortgage insurance, homeowners insurance) needs to be less than 31 percent of their gross income, typically. You may be able to get approved with as high a percentage as 40 percent. Your lender will be required to provide justification as to why they believe the mortgage presents an acceptable risk. The lender must include any compensating factors used for loan approval.
  • Borrowers’ debt to income ratio (mortgage plus all your monthly debt, i.e., credit card payment, car payment, student loans, etc.) needs to be less than 43 percent of their gross income, typically. You may be able to get approved with as high a percentage as 50 percent.
  • Borrowers must have a minimum credit score of 580 for maximum financing with a minimum down payment of 3.5 percent.
  • Borrowers must have a minimum credit score of 500-579 for maximum LTV of 90 percent with a minimum down payment of 10 percent.
  • Bborrowers must be two years out of bankruptcy and have re-established good credit. Exceptions can be made.
  • Typically borrowers must be three years out of foreclosure and have re-established good credit.
  • The purchased property must meet certain minimum standards at appraisal. If the home you are purchasing does not meet these standards and a seller will not agree to the required repairs, your only option is to pay for the required repairs at closing (to be held in escrow until the repairs are complete).